Quest bets on renewables with solar subsidiary

German real estate investment company Quest Investment Partners has founded Quest Energy to create renewable energy with a focus on solar power.

Headquartered in Hamburg, the wholly owned subsidiary installs and operates photovoltaic systems on the roofs and outdoor areas of Quest projects, with the prospect of also expanding to third-party sites in the future.

Working with service providers, Quest Energy leases roof areas to secure the operation of the solar power plants even after a possible sale of the property.

According to the firm, the electricity produced on site is to be offered to the tenants at below-market rates. In the meantime, solar power generation increases the value of the property.

Quest said that the solution would provide carbon-free electricity, as well as a reduction in electricity costs with at least partial price security.

Theja Geyer, managing partner at Quest Investment Partners said: 'Quest Energy reinforces our long-term climate strategy and our goal to modernise in a CO2-optimised way wherever possible.

'The current events in the news demonstrate in dramatic detail just how sensible and important sustainable and at least partially self-sufficient electricity production is.'

The partner for the planning and tender management of the plants is the Hamburg-based photovoltaic specialist greentech. With more than 100 employees, the company develops, plans, builds and operates solar power plants and is one of the largest independent managers of solar plants in Europe.

Quest is a signatory to the UN principles of responsible investment.

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